The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBlencowe Resou. Regulatory News (BRES)

Blencowe Resources: Aspiring to become one of the largest graphite producers in the world

Blencowe Resources: Aspiring to become one of the largest graphite producers in the world

Share Price Information for Blencowe Resou. (BRES)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 5.85
Bid: 5.50
Ask: 6.20
Change: 0.35 (6.36%)
Spread: 0.70 (12.727%)
Open: 5.60
High: 6.10
Low: 5.60
Prev. Close: 5.50
BRES Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Conditional Placing and Acquisition Update

22 Jan 2020 09:27

RNS Number : 5808A
Blencowe Resources PLC
22 January 2020
 

Blencowe Resources Plc

("Blencowe" or the "Company")

 

Conditional Placing to raise £2 million and

Acquisition Update

 

Blencowe Resources Plc ("Blencowe" or the "Company"), the natural resources sector focused special purpose acquisition company, is pleased to announce that it has raised £2 million (before expenses) through a conditional placing of and subscription for (the "Placing") 33,333,329 New Ordinary Shares ("Placing Shares") of £0.005 each to new and existing investors at 6 pence per Placing Share through Brandon Hill Capital. In addition, the Placing Shares will have 1 warrant attached per 2 Placing Shares with an exercise price of 8p and term of 2 years.

 

Acquisition

 

On 28 October 2019, the Company signed a Share Purchase Agreement with Consolidated Africa Limited ("CRA") and New Energy Minerals Africa Pty Ltd ("New Energy") for the acquisition, subject to completion of the Placing, by the Company of 100% of the share capital of Consolidated African Resources (Uganda) Ltd ("CARU"), a subsidiary of CRA, by way of a reverse takeover ("Transaction"). CARU is the holder of the Orom Graphite Project in Uganda. The consideration payable to CRA and New Energy for the Transaction is the issue of 33,333,333 New Ordinary Shares giving a price of 6 pence. CARU will be locked up for a total of 24 months via a "hard" 12 month lock up period and subsequent 12 month "soft" lock in period whereby they will be required to both obtain the consent of the broker and trade through the broker in an orderly manner.

 

Timetable

Following the completion of the Placing, the Company and its advisers will finalise the Transaction with its professional advisers and seek to obtain clearance from the FCA to publish a prospectus and convene the Annual General Meeting ("AGM") which is anticipated in February 2020 and is required to approve the Transaction and the Placing. The Company is targeting to commence trading on the standard list of the London Stock Exchange immediately following the AGM.

 

A further announcement setting out additional details of the Transaction and expected timetable to re-admission to trading on the London Stock Exchange will be issued in due course.

 

* ENDS *

 

For further information, please visit www.blencoweresourcesplc.com or contact:

 

 

Blencowe Resources plc

 

Cameron Pearce/Sam Quinn

 

 

T: +44(0)1624 681 250

sam@lionsheadconsultants.com

Brandon Hill Capital Limited

Financial Adviser & Broker

Oliver Stansfield/Jonathan Evans

T: +44 (0)20 3463 5000

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCBTMLTMTTTMJM
Date   Source Headline
15th Apr 20247:00 amRNSBulk Sample Update
10th Apr 20247:00 amRNSReceipt of Third Tranche from DFC
26th Feb 20248:52 amRNSResult of AGM
9th Feb 20247:00 amRNSSubscription & Conditional Subscription - Replace
6th Feb 20247:00 amRNSSubscription & Conditional Subscription
31st Jan 20247:00 amRNSAnnual Financial Report
29th Jan 20247:00 amRNSDFC LOI Regarding Project Financing
25th Jan 20247:00 amRNSReceipt of further $1m Tranche from the DFC
2nd Jan 20247:00 amRNSProject Update
11th Dec 20237:00 amRNSDFS Update
30th Oct 20237:00 amRNSSPG Test Work Completed
10th Oct 202312:16 pmRNSReceipt of $1m Grant First Tranche from DFC
22nd Sep 20237:05 amRNSCorporate Presentation
22nd Sep 20237:00 amRNSDFC Grant Completed
4th Sep 20237:00 amRNSBulk Sampling Completed
23rd Aug 20237:16 amRNSHolding(s) in Company
14th Aug 20237:57 amRNSBulk Sampling Update & China Visit
18th Jul 20237:00 amRNSWarrants Update
22nd Jun 20231:49 pmRNSCEO Interview
19th Jun 20237:00 amRNSMetallurgical test work results
2nd Jun 20237:00 amRNSHalf-year Report
24th May 20238:59 amRNSHolding(s) in Company
18th May 20237:46 amRNSPlacing to Raise £635,000
9th May 20237:00 amRNSWebinar Today
2nd May 20237:11 amRNSInvestor Webinar & Updated Presentation
27th Apr 20233:22 pmRNSStrategic Funding Partner for Orom-Cross
18th Apr 20237:00 amRNSWarrant Expiry Extension
2nd Mar 20237:49 amRNSResearch Note
27th Feb 20237:00 amRNSBulk Sampling Complete
15th Feb 202310:17 amRNSResult of AGM
23rd Jan 20237:00 amRNSAppointment of Leading Engineering Firm to DFS
16th Jan 20237:00 amRNSFinal Metallurgical Testing Programs
13th Jan 20237:00 amRNSAnnual Results 30 September 2022 & Notice of AGM
11th Jan 20234:40 pmRNSSecond Price Monitoring Extn
11th Jan 20234:35 pmRNSPrice Monitoring Extension
11th Jan 20237:00 amRNSExport Approval for Bulk Samples
6th Dec 20227:00 amRNSMetallurgical Test Work Update
17th Nov 20229:00 amRNSPrice Monitoring Extension
27th Oct 202211:10 amRNSIssue of Options
26th Oct 20227:00 amRNSStrategic Investment
24th Oct 20224:41 pmRNSSecond Price Monitoring Extn
24th Oct 20224:36 pmRNSPrice Monitoring Extension
6th Oct 202212:45 pmRNSWebinar Call
3rd Oct 20229:06 amRNSSecond Price Monitoring Extn
3rd Oct 20229:00 amRNSPrice Monitoring Extension
3rd Oct 20227:00 amRNSStrategic Party
27th Sep 202210:56 amRNSChange of Registered Office
26th Sep 20227:00 amRNSDFS Update
6th Sep 20227:00 amRNSAkelikongo Nickel Project Update
25th Jul 202210:00 amRNSInvestor Webinar

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.